Question

Alexander Hamilton was Secretary of Treasury under Washington and some say he was one of our best. Some of his early ideas were the creation of a national bank, establishing credit for the United States and, therefore debt, but most importantly, he saw the future of this country going the way of manufacturing and industry. He wanted to emulate Great Britain and it's Industrial Revolution.

Were these good ideas for the country as a whole, or would they only benefit the upper classes, the educated and the wealthy? His opponents felt these things were all created to keep the upper class in power. If one of our current state or national candidates advocated that if he or she were elected then he or she would implement policies similar to Alexander Hamilton, would you vote for that person? In your answer, explain things you liked or disliked about Hamilton's policies.

Answer 1

We disagree with Hamilton because industrialization has not only been a boon but also a curse for human civilization in many ways.

In economic terms, ‘industrialization’ is the economic & social transformation of human society from agricultural to industrial. Its environmental downsides include pollution of air, soil & water which can result in considerable deterioration of life expectancy & quality of life. Because of industrialization, there’s a significant separation of capital & labor. Those who own the means of production become disproportionately wealthy, resulting in great income inequality. The migration of laborers, the separation of family members, overcrowding & long working hours, which stem from industrialization can lead to social tension & illnesses due to poor nutrition & stress